The numbers: FB has more users than China has citizens (1.6 billion vs. 1.3 billion). Almost half of all FB users will log on on any given day. However, FB users spend only 18-40 minutes on average – so there is room to improve engagement time on this social media platform vs. television viewership, radio listenership and even consumption of magazines and other traditional media.
Why FB Makes Business Sense: (1) Segmenting: Facebook keeps vast database on just about everything related to its users: favorite things, locations traveled, likes, interests. This includes filtered advertising Demographic targeting including location, age, gender. Psychographic targeting including precise interests, behaviors, connections.(2) Cost Management: Limit advertising spending when conducting Facebook marketing campaigns; control max spend and length of campaign; Pay per target (PPC) and (3) Engagement: CONTENT IS KING! Post helpful tips, interesting ideas, links to articles to read, ask relevant questions, share interesting pictures, video – all without directly selling something.
Posting Strategy for FB: To drive up interactivity and improve your Edgerank, you may want to consider sentimental posts, utilitarian posts, counterintuitive posts, funny posts, surveys, poll, contents and other posts that elicit a response from users, quotes and posts that generate outrage.
Edgerank is Facebook’s newsfeed algorithm. While there are over 100,000 factors involved in Facebook pushing content to your newsfeed, the biggest factors are affinity score between user and edge (post/medium) creator, weight for the edge type (connect, like, tag, comment) and time decay factor (newer is always better)! Read more about Edgerank here: http://edgerank.net/
The Facebook advertising game is all about impressions (over a trillion potential per day) while Google offers a much more impressive reach (90% of internet users use Google).
FB Boosts for Business: Besides just boosting your posts, you can also:
- Promote FB page/ Page Likes
- Send people to website – serve domain ads
- Page post links
- Multi-product Ads
- Increase conversions on your website
- Get installs of your app (mobile and desktop)
- Increase engagement in your app
- Reach people near your business
- Raise attendance at your event
- Get people to claim your offer
- Get video views
Remarketing on FB:
Mark Zuckerberg, CEO and founder of Facebook, has negotiated a deal that will keep him as majority owner of Facebook for years to come.